Australian fintech firm wins ATB Financial’s innovation challenge

Australian firm wins ATB Financial innovation challenge

KPMG and Matchi are delighted to announce that Avoka is the winner of ATB Financial’s Customer Onboarding Global Innovation Challenge. Avoka will now work with ATB on a proof-of-concept project with a view to roll out and implement the solution.

Also on KPMG.com

KPMG and Matchi are delighted to announce that Avoka is the winner of ATB Financial’s Customer Onboarding Global Innovation Challenge. Avoka will now work with ATB on a proof-of-concept project with a view to roll out and implement the solution.

“This challenge absolutely delivered innovative thinking from around the globe,” said ATB’s Chief Transformation Officer, Wellington Holbrook. “I was excited to see a fantastic breadth and depth of responses - proof of how rich the fintech ecosystem truly is. We’re looking forward to working with Avoka in creating a seamless experience for Albertans who interact with ATB.”

Powered by KPMG in Canada and Matchi, the challenge invited fintech solution providers to produce a relevant, implementable innovation to help automate and optimize ATB’s client onboarding and authentication. KPMG recently acquired Matchi to create a powerful resource that helps clients find and deploy fintech solutions that are most relevant to their business needs.

The challenge attracted more than 50 entries from 14 different countries including Australia, Canada, Czech Republic, Hong Kong, India, Israel, Russia, South Africa, United Kingdom and the United States. All challenge responses went through an intense process of validation, scoring and evaluation to a shortlist of six finalists. From there, the final judging panel unanimously selected Avoka as the solution which was the most aligned to the bank’s current onboarding focus areas.

“Working with ATB and our Matchi team to carry out this Customer Onboarding Global Innovation Challenge has been a fantastic experience,” said David Bolton, Partner, Financial Services, KPMG in Canada. “A number of truly innovative solutions for onboarding, KYC and identity management were identified from all corners of the globe. The judging process supported by the Matchi platform provided a very effective way for all participants to engage in the evaluation and selection of finalists.”

The Top 6 solutions of the Customer Onboarding Global Innovation Challenge by ATB were:

Winner: Avoka, Australia

Runner-up: Aimbrain, United Kingdom

Runner-up: Kyckr, United Kingdom

Runner-up: TRC Mobilearth, Canada

Runner-up: Trulioo, Canada

Runner-up: Simple KYC, Australia

“Avoka is thrilled to have been selected the winner of the ATB challenge and now to have the opportunity to run a POC,” said Don Bergal, Chief Marketing Office, Avoka. “The speed of the presentation and decision process with the Matchi challenge was fantastic, allowing us to get from a first introduction to customer engagement in a fraction of the time of a conventional sales cycle.”

About KPMG

KPMG LLP, an Audit, Tax and Advisory firm (kpmg.ca) and a Canadia limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative ("KPMG International"). KPMG member firms around the world have 189,000 professionals, in 152 countries.

The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss entity. Each KPMG firm is a legally distinct and separate entity, and describes itself as such.

About Matchi

Matchi is a global fintech innovation match-making firm, since 2013. Matchi has worked with over 100 leading banks and insurance companies (FIs) around the world, and has a database of over 2,500 fintech firms with 700+ curated solutions. Matchi provides both a searchable, highly-detailed portal of fintech solutions, as well as bespoke projects for FI clients to source targeted fintech solutions aimed at the FIs focus areas / pain points. The global Matchi team has run Fintech Challenges and Market Scans for multiple FIs around the world, in arkets as diverse as Africa, Japan, Canada, Mauritius and India, as well as searches in more recognized fintech regions.